People/Biz

Turner Broadcasting to cut 1,475 jobs

Turner Broadcasting System, parent company of U.S. channels TNT and TBS, is reducing its global workforce of roughly 14,000 full-time employees by approximately 10%, making cuts across all divisions.
October 7, 2014

Turner Broadcasting System (TBS) has announced it will be reducing its global workforce of roughly 14,000 full-time employees by approximately 10%, making cuts across all divisions.

In a statement issued yesterday (October 6), the firm said the redundancies will come “at all levels from across the company’s news, entertainment, kids, young adult and sports networks and businesses, as well as corporate functions,” in 18 Turner locations around the world.

TBS operates the U.S. cable channel of the same name, along with the TNT channel. Those employees whose positions are directly impacted will be advised over the next two weeks and will be offered severance pay for transition, the firm added.

The cuts amount roughly 1,475 roles. The company said the downsizing was just one element of “a comprehensive initiative and company reorganization to focus resources and prioritize investment in programming, monetization and innovation as near- and long-term drivers of growth.”

The job cuts come after the departure of Turner Entertainment Networks president Steve Koonin in April, and news of the departure of Michael Wright, president and head of programming at TNT, TBS and Turner Classic Movies, in August.

 

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